Legal Question in Credit and Debt Law in Ohio

Personal guarantor

If a company files bankruptcy but a member has signed a person guaranty . can they be sued for money owed seperately

Asked on 2/18/09, 3:05 pm

1 Answer from Attorneys

David Weilbacher, Esq. Attorney at Law

Re: Personal guarantor

Yes. The reason to secure a personal guarantee is to ensure against a company's inability to pay. The bankruptcy of the company may affect the guarantor's ability to recover from the company, but the bankruptcy will not affect a creditor's ability to pursue the claim against the guarantor.

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Answered on 2/18/09, 3:46 pm

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